Ashoka Buildcon emerged as the lowest bidder for two projects worth Rs 2,153 Cr
Ashoka Buildon Ltd. has emerged as the lowest bidder for two projects worth Rs.2,153 crores from Maharashtra State Road Development Corporation(MSRDC).
Ashoka Buildcon Limited engages in the infrastructure development business in India. The company operates through three segments: Construction & Contract Related Activity, Built, Operate and Transfer (BOT); and Sale of Goods. It engages in the construction of infrastructure facilities on an engineering, procurement, and construction basis, as well as a built, operate, and transfer basis. The company has emerged as the lowest bidder for two projects worth Rs.2,153 crores from Maharashtra State Road Development Corporation(MSRDC).
Ashoka Buildcon emerged as the lowest bidder
Ashoka Buildcon Ltd. (ABL) has emerged as the lowest bidder (L1) for the civil construction project involving the development of two new bridges spanning the Jaigad and Kundalika rivers on an Engineering, Procurement, and Construction (EPC) basis. These bridges, integral to Maharashtra State Highway SH-4 (Revas – Reddi Coastal Highway), form part of a comprehensive initiative by the Maharashtra State Road Development Corporation (MSRDC) to construct a minimum of eight bridges, strategically positioned across creeks and rivers.
Details about the Bids
The infrastructure developments under these bids include a 4.4 km Jaigad Creek Bridge, facilitating an important connection between Tavasal and Sandelavagan over the Jaigad River within Ratnagiri District. This bridge, boasting two lanes, represents a crucial component of the regional transportation network. Ashoka Buildcon Ltd. (ABL) has secured this project with a bid of Rs.794.85 crores. Additionally, the planned 3.8 km Kundalika Bridge, connecting Revdanda and Salav over the Kundalika River in Raigad, also features two lanes ABL has emerged as the lowest bidder for this project for Rs.1357.87 crores. The total worth of both projects would be around Rs.2,153 crores.
Conclusion
Ashoka Buildcon’s successful bids for the Jaigad and Kundalika bridges reflect their financial stability and capability to secure significant infrastructure projects. These wins are expected to contribute positively to Ashoka Buildcon’s revenue and profitability, which will further solidify its position in the construction industry. The stock of Ashoka Buildcon currently trades at Rs.192.55 a piece up by 5%.
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